Onwards and upwards at Civitas – on the face of it, the second quarter of 2019 was a relatively quiet one for Civitas Social Housing. Its NAV at the end of June 2019 rose to 107.21p, up from 107.08p and the annualised rent roll went from £45.7m to £46m. The quarterly dividend was 1.325p, in […]
Veteran manager Martin Hudson stands down – Martin Hudson, manager of The Mercantile Investment Trust, has relinquished responsibility for the trust and will retire from JPMorgan Asset Management in the final quarter of 2019. His co-managers, Guy Anderson and Anthony Lynch, will continue to run the trust. Chairman, Angus Gordon Lennox said: “Martin has worked […]
RIT Capital assets hit high as Rothschild bows out – over the first six months of 2019, RIT Capital Partners delivered a total return on NAV of 8.5%. Net assets surpassed £3bn and the company’s share price rose by 10.1%. A second interim dividend of 17p has been declared, bringing the total to 34p, 3% […]
In QuotedData’s other news 5 August 2019 Chenavari Toro’s tender offer for 5% of its shares was not taken up in full – just 2.9% of shares were tendered validly – the company will shrink by just under €8m. Foresight Solar has refinanced 312MW of solar farms with a GBP170 million term loan facility, a GBP65 […]
Great start for Baillie Gifford US Growth – Baillie Gifford US Growth has published its first set of results and they are pretty good. During the period from 23 March 2018 to 31 May 2019, the share price and net asset value returned 28.4% and 28.8% respectively. This compares with a total return of 22.2% for […]
Gabelli Value Plus tender and continuation vote – Gabelli Value Plus+ Trust is planning to hold a tender offer for up to 14.99% of its issued share capital (excluding treasury shares). Details will be announced shortly. A continuation vote is planned for the AGM in 2020 (this is triggered if the trust trades at more than […]
In QuotedData’s other news 1 August 2019 GCP Student Living is planning to dip into its debt facilities to fund the acquisition of the 412-bed Scape Mile End Canalside. Its LTV ratio could move into the mid 30s per cent. level. Fidelity Japan was 7.6% ahead of its benchmark at the half-year stage (up 14.8%). The […]
QuotedData on Pershing Square QuotedData sent an analyst along to a meeting with Bill Ackman (manager of Pershing Square Holdings), some of his team and the chairman, Anne Farlow. The company has had a great year – the manager’s best ever apparently, with the NAV up 41.4% over the year to the 30th of July […]
BioPharma updates on Lexicon – BioPharma Credit has updaed the market following an announcement from Lexicon Pharmaceuticals, Inc. Sanofi has made a notice of termination in relation to its collaboration and license agreement with Lexicon for the development and commercialization of Zynquista. Sanofi’s actions do not impact XERMELO(R) which is marketed by Lexicon in the US […]
JPMorgan Smaller Companies announces fee cut – The board of JPMorgan Smaller Companies Investment Trust has announced that, following a review, the company’s investment management fee arrangements with JPMorgan Funds Limited (‘JPMF’) will change. With effect from 1st August 2019, the annual investment management fee, currently 80bps (basis points, equivalent to 0.8%) a year on gross […]
